Introduction to Business

Section 1: A Look at Wants and Needs

Self-Checks

1
Wants that are widely shared by many people are called ______ .
A)private wants
B)public wants
C)needs
D)goods and services
2
Tasks that businesses perform for consumers are known as ______ .
A)services
B)goods
C)resources
D)fees
3
Items that people can use to make or obtain what they need or want are called ______ .
A)materials
B)limits
C)services
D)resources
4
Resources limit the number of needs and wants people can ______ .
A)make
B)desire
C)satisfy
D)enjoy
5
Good choices are easier to use if you use the process of ______ .
A)identification
B)consideration
C)choice
D)decision-making
6
To identify possible courses of action, you should take time to consider ______ .
A)pros and cons
B)your decision
C)alternatives
D)the results
7
To determine the pros and cons of a decision you should consider ______ .
A)your values
B)your goals
C)your choices
D)all of these
8
Once your decision is put into effect, you should ______ .
A)relax
B)evaluate it
C)reconsider
D)doubt it
9
When buying something, you should use all the decision-making process steps ______ .
A)all the time
B)most of the time
C)none of the time
D)for important purchases
10
______ usually make the important decisions that affect their companies future.
A)Employees
B)Middle managers
C)Customers
D)Higher-level managers
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